Karoon Gas Australia, now known as Karoon Energy Ltd., is an international oil and gas exploration and production company listed on the ASX. With a focus on delivering profits through a high-quality portfolio of assets, Karoon aims to provide energy to a dynamic world while creating enduring benefits for all stakeholders. Sustainability is a key commitment for the company, as it was carbon neutral for Scope 1 and 2 emissions in FY2021 and has a target to achieve Net Zero emissions by 2035.

Karoon's primary producing asset is the Baúna oil field in the southern Santos Basin, offshore Brazil, which it acquired from Petrobras SA in November 2020. Since taking ownership, Karoon has achieved significant production rates, generating cash revenue of US$798 million as of December 2022. Recent interventions on the Baúna field and the development of the adjacent Patola oil field are expected to result in a doubling of production rates compared to FY2022.

With an operational presence in Brazil, Karoon is well-positioned for further growth, including the potential development of the Neon oil discovery and exploring inorganic growth opportunities through asset acquisitions. Karoon Gas Australia is committed to sustainable operations and contributing to the global energy landscape